Bosch Sales Increase 17 Percent in North America
In 2004, Bosch increased its North American sales by 17 percent, to $7.8 billion. Dynamic growth activity was seen in all three of the company’s business sectors: automotive technology, industrial technology, consumer goods and building technology.
TRW Automotive Reports First Quarter 2005 Financial Results; Provides Update on 2005 Outlook
TRW Automotive Holdings Corp. has reported first quarter 2005 sales of $3.2 billion, an increase of 10 percent compared to the same period a year ago. Net earnings were $50 million or 50 cents per diluted share, which compares to $2 million or 2 cents per diluted share in the prior year quarter. The company’s first quarter 2005 included five additional calendar days as compared to the previous year period.
Torvec Adds Two to Board of Directors
Automotive technology firm Torvec has elected Mary Ho and Philip Fain to its board of directors. Mary Ho is president of the China Millennium Council, a globally-recognized enterprise dedicated to fostering and developing innovative cultural, educational and community partnerships with China. A renowned expert in international negotiation, Ho has extensive experience in international public relations, corporate strategy development and transition management.
Lear Executive Honored by President Bush for Community Service
Jim Comer, president of North American Joint Ventures and Diversity at Lear Corp., was honored by President George W. Bush with the President’s Volunteer Service Award during the president’s visit to Detroit last week. The award, established by President George W. Bush in his 2002 State of the Union address, recognizes individuals, groups and families who have met or exceeded requirements for volunteer service and have demonstrated exemplary citizenship through volunteering.
Giant Industrial Union Formed With Merger of USWA, PACE
The United Steelworkers of America (USWA) and the Paper, Allied Industrial, Chemical and Energy Workers International Union (PACE) will merge following a unanimous vote by the two unions’ international executive boards. The new union resulting from the merger will have more than 850,000 active members in more than 8,000 bargaining units in North America and an organizing budget of more than $30 million per year. It will be known as the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union.
Office Depot Becomes First Official Office Products Partner of NASCAR
Office Depot has entered into a multi-year agreement with the National Association of Stock Car Auto Racing (NASCAR) to become the sport’s first-ever Official Office Products Partner, beginning with the 2005 race season. The relationship with NASCAR will be Office Depot’s primary national sponsorship platform this year and will be incorporated into the company’s new internal and external brand positioning campaign called Taking Care of Business – which launches this week.
UPS Helps Students Pursue Automotive Careers with Racing Scholarships
As part of the company’s continued commitment to promote diversity in NASCAR, express delivery company UPS is awarding five students with its UPS Racing Technical Edge Scholarship. To date, UPS has provided more than $230,000 in scholarship funds to minority students pursuing careers in racing and automotive technology.
Continental AG Protects its Brands Online with Register.com
International automotive supplier Continental AG has selected Register.com, a leading provider of global domain name registration and Internet services, to manage its entire domain name portfolio. Through its Corporate Services Division, Register.com will help Continental manage and secure its Web presence and protect its brands from infringement on the Internet.
Montgomery, Ala., Hosts Third Minority Automotive Supplier Expo
Representatives of U.S. automakers spent quality time with minority-owned companies last week in Montgomery, Ala., trading information on the business opportunities resulting from Alabama’s status as a hub of automotive manufacturing. The third annual Minority Automotive Supplier Showcase, presented by the Minority Business Participation Corp. at Alabama State University, was designed to connect automotive suppliers with representatives of Hyundai, Honda, Toyota and Mercedes.
Johnson Controls Announces New Appointments
Johnson Controls announced new appointments for five of the company’s corporate officers. Senior Vice President and CFO Stephen Roell has been elected executive vice president and CFO. He joined the company in 1982 and has served as CFO since 1991. He was elected as a corporate officer the same year.